Well, we got the rally I was looking for, but it wasn't convincing at all. I'm thinking more upside for tomorrow, but I'd be very nervous holding a long position over the weekend. This H&S pattern is playing out in textbook fashion for the most part, but the one thing that bothers me is that I would normally see this as a contrarian indicator in such a bearish environment. We could still see a surprise move to the upside just to bag all the shorts.
That's a risk I might take in a flexible account, but not TSP.
There are valid reasons for this market to drop too, and I don't need to go into the long list of those items.
F fund appears to have had a hard drop today. That's a bit of the dip I'm looking for to diversify into that fund, but not just yet. Should I decide to pull the trigger I don't think I'll commit more than 20% or so, just in case it decides to slide on me. Getting back out would cost me my last IFT and I don't want to lose that flexiblity in the event I get another buy signal from the SS.
That's a risk I might take in a flexible account, but not TSP.
There are valid reasons for this market to drop too, and I don't need to go into the long list of those items.
F fund appears to have had a hard drop today. That's a bit of the dip I'm looking for to diversify into that fund, but not just yet. Should I decide to pull the trigger I don't think I'll commit more than 20% or so, just in case it decides to slide on me. Getting back out would cost me my last IFT and I don't want to lose that flexiblity in the event I get another buy signal from the SS.
I think there's an art to setting stops and they should not be applied as an across-the-board rule. I find I'm much more successful avoiding them. It's basically telegraphing your intentions to the enemy, or letting the other poker player know what cards your holding.
